SEOUL, Dec. 23 (Korea Bizwire) — Senior South Korean officials on Monday pledged to speed the adoption of artificial intelligence across the agriculture and food sectors, positioning so-called “physical A.I.” as a key response to rural labor shortages and an aging farming population. Bae Kyung-hoon, the deputy prime minister and minister of science and information and [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s financial watchdog warned on Monday that bonus systems at banks and other financial institutions remain overly focused on short-term performance, even as incentive pay surged more than 30 percent last year. The Financial Supervisory Service said total performance-based compensation paid to employees at financial companies reached 1.396 trillion [...]
SEOUL, Dec. 23 (Korea Bizwire) — The South Korean government said it expects domestic petrochemical producers to cut as much as 3.7 million tons of naphtha cracking capacity, a key goal of a sweeping industry restructuring drive aimed at restoring competitiveness in an oversupplied global market. After reviewing restructuring plans submitted by major producers, the Ministry [...]
SEOUL, Dec. 22 (Korea Bizwire) — The antitrust regulator said Monday it has instructed the country’s flag carrier Korean Air Co. to revise its mileage integration plan as part of its merger with Asiana Airlines Inc. Korean Air has been notified to submit a more detailed plan within one month, including measures for the use [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korea has launched a public-private working group to push for the development of proprietary liquefied natural gas (LNG) cargo tanks to lessen dependence on foreign technologies, the industry ministry said Monday. The working group comprises industry, finance and oceans ministries, as well as major Korean companies, including Korea [...]
SEOUL, Dec. 19 (Korea Bizwire) — Kim Jong-cheol, the inaugural chair of the Korea Media Communications Commission (KMCC), vowed Friday to take stern measures against fake news and materials related to digital sex crimes. “I will take firm measures against false and manipulated information, as well as malicious comments polluting the public sphere of democracy, [...]
SEOUL, Dec. 19 (Korea Bizwire) — South Korea’s National Assembly took a major step toward expanding climate protections on Thursday, approving a bill that formally defines “climate-vulnerable populations” and requires the government to prioritize their safety in national climate policy. The Special Committee on the Climate Crisis passed a bipartisan amendment to the country’s Carbon Neutrality [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s ruling Democratic Party said Thursday it would push for a joint parliamentary hearing involving multiple standing committees to investigate a massive data breach at e-commerce giant Coupang, stepping up pressure after the company’s founder repeatedly failed to appear before lawmakers. Kim Hyun-jung, a spokesperson for the Democratic Party’s [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s financial regulator on Thursday raised its consumer alert level to “warning” after confirming secondary damages—including voice phishing and smishing—linked to last month’s massive personal data leak at e-commerce giant Coupang. The Financial Supervisory Service (FSS) said the escalation follows a rise in reported fraud attempts exploiting public anxiety [...]
SEOUL, Dec. 18 (Korea Bizwire) — The government said Thursday it plans to allocate some 10,000 graphics processing units (GPUs) procured from Nvidia Corp. to small and mid-sized enterprises (SMEs), startups and academic and state artificial intelligence (AI) projects starting in February. The plan was unveiled as part of the government’s broader strategy to foster [...]